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However, for most organisations, it is still early days and much needs to be learned and discovered about AI for users and leaders to fully grasp the impact of the technology. In this context, CFOs must adopt a proactive stance, perceiving AI not only as a source of risk but also as a vital component in the riskmanagement toolkit.
The Key to Effective RiskManagement in Business with Chris Weeks, CFO Center UK In the latest CFO Club podcast, we had the pleasure of hosting Chris Weeks from CFO Center UK. Chris shared invaluable insights into effective riskmanagement strategies and how businesses can better prepare for uncertainty.
Source: Data collected during the FutureCFO Conference series in 2024, Cxociety Research Coming into 2025, as finance leaders face mounting pressure to do more with less while driving growth and maintaining compliance, they are turning to digital solutions and holistic approaches to reshape and modernise financial processes.
In the exhilarating realm of technology startups, ambitious entrepreneurs and CEOs are on a relentless quest for rapid expansion. However, with this growth comes the critical task of maintaining legal and financial compliance.
Regulatory demands : Rising regulatory requirements, particularly in AML and cybersecurity, necessitate that banks prioritise IT investments, directly influencing CFOs financial planning and riskmanagement. Building a culture of continuous learning and establishing a dynamic riskmanagement model will be critical.
As businesses navigate their way around various technological advancements, finance teams are faced with the task to integrate analytics and automation into their existing processes, determining at the same time which specific system to transform first for maximum operational impact.
Marry tech and talent, then riskmanagement can pay dividends, notes an upcoming PYMNTS webinar. However, for many financial services firms, RegTech’s (Regulatory Technology) potential is limited by any number of causes. Among those factors: the cultural hallmarks of the organizations adopting such technologies.
It has been an imperative for accountants to keep up with the technological advancements in the market, and understanding artificial intelligence now raises key challenges for finance professionals. AI risks are diffuse, meaning a collaborative approach to riskmanagement is ever-more vital.
GF : Where does technology and innovation have the biggest impact within finance? Our technology, products, and processes facilitate access to trade finance, which is key to facilitating trade flows. With big data and AI, we are optimizing key processes, automating compliance checks, and enhancing riskmanagement.
Investment in our technology and architecture remains our key priority as we endeavor to meet our clients complex needs through simple, elegant solutions. Morgan , which takes home both the Best Execution Algorithms and the Best DeFi Crypto FX Platform awards, employs innovative technologies to execute trades efficiently and effectively.
With third-party due diligence and supply chain security as increasingly critical components of organizations’ procurement operations, compliance executives are finding important positions in their firms’ purchasing processes. Automated riskmanagement solutions can be helpful in theory.
It is also, according to WePay Co-Founder Rich Aberman and WePay VP of Product Risk, Compliance and Experience John Canfield , one of the most difficult topics to really get a handle on. On one level, risk itself has not fundamentally changed in the last few decades,” Aberman explained. “As The Expanded World Of Risks.
Whether through guiding a company through periods of expansion or navigating complex challenges, I am motivated by the potential to make a significant impact. Additionally, I plan to stay engaged in continuous learning, ensuring I remain adaptable and well-versed in the latest business trends and technologies.
The findings come as artificial intelligence (AI) is emerging as a crucial technology for banks, and demand for the technology is expected to become fierce. Data, security, and compliance are what hold banks back Data privacy and security remain the foremost challenges to AI and cloud adoption.
This article aims to provide practical, actionable insights into effective riskmanagement strategies that you can implement within your organization. Understanding RiskManagement in the CFO Role Riskmanagement is an integral part of the CFO’s stewardship role.
Auquan’s Risk Agent autonomously monitors public and private company portfolios for early risk signals across a host of factors and supports potential additions. ” Industry-wide collaboration through open-source technology is becoming pivotal to both keeping pace with regulatory changes and simplifying compliance. .
The insurer has achieved a ninefold increase in policy issuance while reducing headcount by 20 per cent, through technology investments. CFO Gopal Balachandran outlines the companys focus on health insurance expansion, regulatory compliance, IFRS 17 preparedness, and its approach to profitability and riskmanagement.
Treasury operations in Asia, particularly Southeast Asia, in 2025 and 2026 are navigating a complex and evolving landscape shaped by economic, geopolitical, and technological forces. Companies increasingly adopt digital tools to improve cash flow forecasting, automate reconciliation, and manage liquidity more effectively," he adds.
Finance leaders now are faced with the task of identifying and mitigating ESG-related risks, allocating resources towards sustainability initiatives and communicating the organisation's ESG performance to stakeholders. He says businesses are not just pursuing sustainability for compliance purposes but also for long-term value creation.
With more C-suite, investor and board-level focus on AI and bigger budgets supporting the efforts, technology leaders are under pressure to get the formula right, from picking a scalable, beneficial use case to tracking its success post-deployment. You can unsubscribe at anytime.
Supplier riskmanagement is often a resource-intensive practice and rarely a target of technological investments. As a result, corporates will often let their vendor relationship management processes fall by the wayside. Unprecedented Risk. ” A Dramatic Shift. The New Normal.
Current industry research suggests that AI technologies are gaining traction among finance professionals navigating a complex landscape marked by rapid change. However, the adoption rate varies significantly across the region, influenced by technological maturity and cultural attitudes towards innovation.
Want to know what your peers are reading on treasury and riskmanagement ? Case Study: How Jaguar Land Rover Improved FX RiskManagement. Case Study: How Jaguar Land Rover Improved FX RiskManagement. Fact Sheet: Technology to Automate Global Bank Connections. Read the Case Study. Read the Case Study.
They are now using technology as a lever to reduce costs and innovate. According to S&P Global Ratings, operational costs for European banks increased by over 4% annually from 2021 to 2023 , emphasizing the need for effective cost management strategies. For the technology to be most effective, it requires a strong data foundation.
The analyst further suggests that application leaders must understand the technologies and frameworks that underpin a composable approach to set the scene for AI-enabled wins. For example, AI automates riskmanagement and cash forecasting processes using machine learning to generate more accurate and timely predictions,” he elaborates.
This issue hampers forecasting accuracy, riskmanagement, and resource allocation. Without accurate insights, businesses struggle with forecasting, riskmanagement, and resource allocation. ManageRisk and Uncertainty Identifying risks early helps businesses prevent financial losses and adjust strategies effectively.
Financial crimes riskmanagement software company Quantifind and Oracle Financial Services have teamed up to improve anti-money laundering (AML) compliance and to add intelligence and automation properties directly into the compliance workflows, according to a release.
As the role of the finance leader evolves beyond compliance and control, strategic decision-making increasingly relies on the intelligent use of data. Technology as an Enabler, Not the Destination Digital finance transformation remains a boardroom prioritybut its not about technology for its own sake. But not just any data.
Most Innovative Financial Technology Company in North America | BATTERY FINANCE In November 2024, Battery Finance executed a pioneering financial transaction by establishing a bitcoin reserve with shared appreciation benefits for both borrower and lender.
While these challenges remain, firms must also assess and managerisks related to human rights, war, economic turmoil, foreign exchange volatility, cyberattacks and the implications of noncompliance. Today, supply chain and supplier riskmanagement is a beast.
The role of enterprise level CFOs has changed radically over the past decade with both a widening scope of influence and greater responsibilities for helping guide corporate transformation programs and technology choices. Sweeping changes in the enterprise technology landscape have also been a key driver in expanding the role of CFOs.
This evolution is particularly pronounced in Asia, driven by factors such as rapid economic growth, increasing regulatory complexity, and the accelerating pace of technological change. The complexity of managing diverse invoices, with multi-currency, continental tax variations, and format differences, further strains operational capacity.
The benefits for Google include a unified and accurate supplier record, the ability to integrate supplier qualification and segmentation with other procurement processes, and compliance for supplier riskmanagement throughout the supply base.
Strong public market valuations in key sectorsespecially technology and healthcareare attracting growth-driven businesses. Maintain compliance with ongoing disclosure and transparency requirements. Internal reporting structures and organizational charts should support these segment classifications to ensure consistency and compliance.
It is a critical function that directly impacts investor confidence, operational resilience, and compliance. However, the pressures on fund managers are growing: Regulatory Demands : Global regulations such as the SECs private fund adviser rule require increased transparency and robust compliance systems.
Technological Disruption : The emergence of new technologies, including generative AI, requires banks to adapt quickly. Banks invest heavily in technology to enhance user experience and streamline processes through artificial intelligence, machine learning, and blockchain.
Technological advancements, evolving market demands, and a heightened focus on sustainability are converging to reshape the finance landscape. CFOs, controllers, and management accountants must embrace agility and foresight to thrive in this dynamic environment. The finance function is undergoing a seismic shift.
Sabre Corporation has published the results of its “ 2017 Asia Pacific Corporate Traveler Study ,” identifying two major trends driving business travel in the region: an increased emphasis on mobility and a growing concern over non-compliance.
These services include general and operational accounting, financial planning and audit, governance, risk and compliance, transactional transformation, IT and business intelligence solutions, and outsourced accounting and interim management solutions. Susan Crisci has more than 25 years of experience in finance and operations.
Reforms aimed at enhancing entrepreneurship and innovation also create new opportunities for NBK to expand our retail and wealth management services. Al Fulaij: In line with Kuwait Vision 2035, NBK identifies high growth potential in renewable energy, technology, digital transformation, health care, logistics, and contracting.
Frank Tezzi, vice president, CGI Financial Services, Trade & Payments at Montreal- based information technology and business consulting services provider CGI, discusses how SaaS can help banks meet clients future trade finance needs. GF: What impact has Basel III had on trade finance and how banks adjust their riskmanagement practices?
Managing telecom expenses can be a daunting task, especially with companies working with multiple vendors, services, and technologies. Numerous organizations need more technical expertise or resources to efficiently oversee their telecommunication services, especially with the rapid technological advancements.
Each step has enriched my experience, solidified my commitment to public sector finance, and prepared me for ongoing contributions to governance and skills development. When you’re young, focus on deeply understanding the core accounting principles, financial reporting, and regulatory compliance.
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